Transaction accretive to earnings per share, EBITDA margins and
ROIC in 2015

August 18, 2014 06:26 AM Eastern Daylight Time

SWORDS, Ireland--(BUSINESS WIRE)--Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable,
sustainable and efficient environments, today announced it has entered
into an agreement to acquire the assets of Cameron International
Corporation’s (NYSE:CAM) Centrifugal Compression division for $850
million. The acquisition is expected to close before the end of the
year, subject to regulatory approval.

The division provides centrifugal compression equipment and aftermarket
parts and services for global industrial applications, air separation,
gas transmission and process gas. Cameron’s Centrifugal Compression
division generated sales of approximately $400 million in 2013, has
approximately 850 employees and operates from 12 global locations. Upon
closing of the transaction, Ingersoll Rand will welcome the Turbo-Air®
and MSG® brands into the Ingersoll Rand family of brands.

“Cameron’s Centrifugal Compression division offers complementary
product, manufacturing and engineering strengths as well as financial
synergies that make it a natural fit into our core business and will
provide meaningful value to our shareholders,” said Michael W. Lamach,
chairman and chief executive officer. “This opportunity expands our
Industrial Segment and will be immediately accretive to EPS, EBITDA
margins and ROIC.”

The acquisition will strengthen Ingersoll Rand’s Compressed Air Systems
and Services business, which provides a wide range of centrifugal,
reciprocating and rotary air compressor products used in a variety of
industrial and manufacturing applications. Cameron’s Centrifugal
Compression division will also expand Ingersoll Rand’s compression
offerings into areas such as air separation, petrochemical, chemical,
and process gas.

“We are pleased at the prospect of our centrifugal air compressor
division joining Ingersoll Rand’s Compressed Air Systems and Services
business to offer expansion into efficiency and flow offerings and
enable customers to be better served,” said Jack Moore, chairman and
chief executive officer of Cameron International Corporation.

Ingersoll Rand plans to fund the acquisition through a combination of
cash on hand and debt.

Investor Conference Call

Michael W. Lamach and Sue Carter, senior vice president and chief
financial officer, will hold a conference call for investors today at
9:30 a.m. Eastern Standard Time to outline the proposed acquisition and
answer questions. The call can be accessed via the company’s web site: www.ingersollrand.com.
Presentation materials will be available on the web site prior to the
call.

This news release includes “forward-looking statements,” which are
statements that are not historical facts, including, but not limited to,
statements that relate to our intent to acquire the assets of Cameron
International Corporation’s Centrifugal Compression division, the
expected benefits of the proposed transaction, the timing of the
transaction and the impact on our earnings per share, EBITDA margins,
ROIC and other financial measures. The forward-looking statements in
this news release are based on current expectations and assumptions that
are subject to risks and uncertainties, many of which are outside of our
control, and could cause results to materially differ from expectations.
Such risks and uncertainties, include, but are not limited to: our
ability to timely obtain, if ever, necessary regulatory approvals of the
proposed transaction; adverse effects on the market price of our
ordinary shares and on our operating results because of our inability to
timely complete, if ever, the proposed transaction; our ability to fully
realize the expected benefits of the proposed transaction; negative
effects of announcement or consummation of the proposed transaction on
the market price of the company’s ordinary shares;

significant transaction costs and/or unknown liabilities; general
economic and business conditions that may impact the companies in
connection with the proposed transaction; unanticipated expenses such as
litigation or legal settlement expenses; changes in capital market
conditions; the impact of the proposed transaction on the company’s
employees, customers and suppliers; and the ability of the companies to
successfully integrate operations after the transaction. Actual results
could differ materially. For further information regarding risks and
uncertainties associated with our businesses, please refer to our Form
10-K for the year ended December 31, 2013, Form 10-Q for the quarter
ended March 31, 2014, June 30, 2014, and in our other SEC filings. We
assume no obligation to update these forward-looking statements.

About Ingersoll Rand

Ingersoll Rand (NYSE:IR) advances the quality of life by creating
comfortable, sustainable and efficient environments. Our people and our
family of brands— including Club
Car®, Ingersoll
Rand®, Thermo
King® and Trane®
—work together to enhance the quality and comfort of air in homes and
buildings; transport and protect food and perishables; and increase
industrial productivity and efficiency. We are a global business
committed to a world of sustainable progress and enduring results. For
more information, visit www.ingersollrand.com.